Exit Facility Conversion Date definition

Exit Facility Conversion Date means the first date on which the Plan of Reorganization becomes effective, the Exit Facilities Option has been exercised and the conditions to the effectiveness of the Exit Facility as set forth in Section 3.5 are satisfied.
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Exit Facility Conversion Date means the date on which the Approved Plan of Reorganization shall become effective, the Exit Facility Option shall be exercised and each of the conditions precedent set forth in Section 4.04 shall be satisfied or waived pursuant to Section 9.08.
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Examples of Exit Facility Conversion Date in a sentence

  • On the Exit Facility Conversion Date, the Credit Parties taken as a whole are and, upon the incurrence of any Obligation by any Credit Party on any date on or after the Exit Facility Conversion Date on which this representation and warranty is made, will be Solvent.

  • Prior to the Exit Facility Conversion Date, to the extent that the execution by the Collateral Agent or any Secured Party of any rights and remedies under this Agreement would be in violation of the automatic stay provision of Section 362 of the Bankruptcy Code, such stay shall be modified as set forth in the DIP Orders, to the extent necessary to permit such exercise.

  • The Lenders hereby grant to the Borrowers an option (the “Exit Facility Option”) to convert the DIP Facility into an Exit Facility (such conversion, the “Exit Facility Conversion”), subject to the terms and conditions of the Loan Documents, on the Exit Facility Conversion Date.

  • Prior to the Exit Facility Conversion Date, incur, create, assume, suffer to exist or permit any other Superpriority Claim that is pari passu with or senior to the claims of the Agents and the Secured Parties against the Loan Parties except with respect to the Carve-Out.

  • Prior to the Exit Facility Conversion Date, permit Consolidated EBITDA for any twelve-month period, as of the end of each calendar month, to be less than (i) for each month that occurs during the fiscal quarter ending June 30, 2012, $180,000,000, and (ii) for each month that occurs thereafter, $200,000,000.

  • Prior to the Exit Facility Conversion Date, the principal amount of the outstanding Tranche B-1 Term Loans, together with all other amounts owed hereunder with respect thereto, shall be paid in full no later than the Maturity Date.

  • In addition, subject to the terms and conditions set forth in this Commitment Letter, JPMorgan is pleased to advise you that it is willing to use its commercially reasonable efforts to arrange and syndicate the Incremental Commitments until the Exit Facility Conversion Date.

  • You agree that if, at any time prior to the Exit Facility Conversion Date, you become aware that any of the representations in the preceding sentence would be incorrect if such Information or Projections were furnished at such time and such representations were remade, in any material respect, then you will promptly supplement the Information and the Projections so that such representations when remade would be correct, in all material respects, under those circumstances.

  • Following the Exit Facility Conversion Date, the principal amounts of the Tranche B-1 Term Loans shall be repaid in consecutive quarterly installments of 0.25% of the principal amount of such Tranche B-1 Loans with the remaining principal amount of the outstanding Tranche B-1 Loans, together with all other amounts owed hereunder with respect thereto to be paid in full no later than the Maturity Date.

  • From and after the Exit Facility Conversion Date, the foregoing exceptions in clauses (a) through (v) above shall not include any Pre-Petition Liens except to the extent expressly provided in the Plan of Reorganization.

Related to Exit Facility Conversion Date